Elie Melhem Sells 379 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) insider Elie Melhem sold 379 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $300.03, for a total value of $113,711.37. Following the completion of the sale, the insider directly owned 11,592 shares in the company, valued at $3,477,947.76. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Watts Water Technologies Price Performance

NYSE WTS traded down $4.59 during mid-day trading on Wednesday, hitting $296.66. The stock had a trading volume of 158,231 shares, compared to its average volume of 188,940. The firm’s 50 day moving average is $309.00 and its 200 day moving average is $288.24. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.73 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company had revenue of $625.10 million for the quarter, compared to analysts’ expectations of $610.40 million. During the same quarter in the previous year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. Equities research analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.52 dividend. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Institutional Trading of Watts Water Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its position in shares of Watts Water Technologies by 94.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 867 shares of the technology company’s stock worth $239,000 after purchasing an additional 422 shares during the period. Groupama Asset Managment lifted its stake in Watts Water Technologies by 14.9% during the fourth quarter. Groupama Asset Managment now owns 76,674 shares of the technology company’s stock worth $21,164,000 after purchasing an additional 9,934 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Watts Water Technologies by 124.4% during the fourth quarter. Pacer Advisors Inc. now owns 8,174 shares of the technology company’s stock worth $2,256,000 after buying an additional 4,531 shares during the period. Corient Private Wealth LLC grew its stake in shares of Watts Water Technologies by 36.1% in the fourth quarter. Corient Private Wealth LLC now owns 6,140 shares of the technology company’s stock valued at $1,695,000 after buying an additional 1,627 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Watts Water Technologies by 16.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,896 shares of the technology company’s stock valued at $799,000 after buying an additional 407 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on WTS. Robert W. Baird set a $361.00 price target on Watts Water Technologies in a research report on Friday, February 13th. TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. The Goldman Sachs Group upped their target price on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their price target on Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $334.11.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.